I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.
Wrong, even before the time that countries acknowledged bitcoin's existence, bitcoin already has a value and yes there's no real value behind bitcoin besides the fact that people are supporting it and even if they say so, it can't possibly go back to zero because bitcoin will have to return all the fiat that was injected into it to truly go back to that point.
I'm not sure Bitcoin will hit such a low.
as far as people still believe, I'm sure this is good for continued storage or transactions.
the true value of bitcoin I guess based on the acknowledgment from the community. the market determines its value. and real use, I think we have to look at countries that have already legalized bitcoin as a means of payment transactions. not only as an investment asset.